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A fourth weekly decrease in crude inventories and the decline in production highlights the steady downtrend in U.S. supplies before an unprecedented cold blast wiped out nearly 40% of domestic output. Still, demand for crude and fuel is weaker with the cold weather spurring a string of refinery outages and keeping more Americans off the road. View the full article
Crude production in the Permian basin will reach 4.466 million barrels a day in May, the most in a year, and rig counts have touched a one-year high, according to the latest data from the Energy Information Administration. View the full article
Gender diversity remains a challenge in the U.S. shale patch, where fewer than two of every 10 jobs are held by women, according to the latest study by a trade group representing the hired hands of the oil field. View the full article
Royal Dutch Shell Plc’s Nigerian unit agreed to pay a community in the West African country more than $110 million to resolve a long-running dispute over an oil spill that occurred more than 50 years ago. View the full article
President Joe Biden’s effort to tame pump prices by tapping government oil stockpiles could backfire for one simple reason: American gasoline prices more closely track international, rather than U.S., oil benchmarks. View the full article
The Energy NL Annual Conference & Exhibition 2024 began on Tuesday, June 4, 2024, with an opening address by Premier Dr. Andrew Furey, who committed his support for the Newfoundland and Labrador energy industry, including the offshore oil and gas sector and the renewable energy sector. View the full article
The subsea infrastructure will tie back to the Energean Power floating production, storage, and offloading vessel (FPSO), which currently serves the Karish and Karish North developments. TechnipFMC also delivered fully integrated subsea solutions utilizing our iEPCI™ execution model for both of these developments. View the full article
Tim Duncan, who was also one of the company’s founders, stepped down on Thursday. Board member Joseph Mills will serve as interim CEO. Earlier this month, Carlos Slim, Latin America’s richest person, took advantage of the equity-market selloff to boost his stake in Houston-based Talos, which focuses on oil exploration and production in the Gulf of Mexico. View the full article
Cameroon has recently attracted a wave of independent explorers embarking on new exploration activities and developing marginal fields, in collaboration with national oil company Société Nationale des Hydrocarbures (SNH). View the full article
KKR is bucking the trend among private-equity peers that have been unloading shale investments after back-to-back oil market busts. The move may signal a bullish turn with U.S. crude prices heading for the best annual performance since 2015. View the full article
With winter fast approaching and a stunning energy price surge pummeling Europe, Russian President Vladimir Putin chose an opportune moment to use his country’s leverage as an oil and gas superpower. View the full article
Liberty Oilfield Services Inc. posted its best quarterly sales since going public more than four years ago as the global energy crisis spurs a boom in demand for fracing. View the full article
Marathon Oil will file the vote results of the special stockholder meeting in a Form 8-K with the U.S. Securities and Exchange Commission. The companies to expect the transaction to close late in the fourth quarter of 2024. View the full article
Chevron announced a donation of $250,000 and critical fuel supplies to support relief and recovery efforts after Hurricane Milton devastated parts of Florida. View the full article
Oil broke through a months-long trading range as expectations of tightening supplies in the U.S. compounded signs the world’s largest oil-consuming country is in the midst of a robust recovery. View the full article
The Biden administration called on OPEC countries and U.S. regulators to do more to ensure a stable energy supply, with a specific focus on retail gasoline prices that the President pledged to keep affordable. View the full article
Libya’s oil production has risen in the past week to around 700,000 to 800,000 barrels a day, according to Energy Minister Mohamed Oun. View the full article
On July 30, ENTSO-E allowed a 2.5-fold increase in the export of Ukrainian electricity to Europe, only up to 250 MW. This gives Ukraine a revenue stream for supporting its energy sector. View the full article
The partnership will allow for centralized fleet monitoring with real-time vessel tracking and streamlined reporting. The data will then be integrated into Opsealog’s Marinsights platform to deliver insights that will help BOURBON optimize vessels’ operational profiles to reduce fuel consumption and associated GHG emissions, while also helping reduce operating costs. View the full article
At present, OPEC+, the Organization of Petroleum Exporting Countries plus Russia, resembles an unstable nucleus of a radioactive atom; judging by what we hear on political front, there seems to be an uneasy compliance with self-imposed quota-limits with murmurs of cacophonies.
Although crude price dipped slightly over the past two days, it is still high and countries that desperately need petro cash to prop up under-performing economies are deprived of a once-in-a decade opportunity to ca
“The offshore oil and gas industry continues to receive broad support across Newfoundland and Labrador and I believe this can be attributed to the value it provides our province and country in tangible terms of well-paying jobs, royalties and benefits to help pay for public services," said Charlene Johnson, Noia CEO. View the full article
Oil steadied after a two-day advance as investors bet the global demand recovery will remain intact despite the latest wave of Covid-19 that’s led to tighter restrictions on movement in many countries. View the full article
Recently introduced digitalization and automation technologies are enabling better performance on new build and retrofitted rigs. View the full article
Buzzard reached peak production of 80,000 boed after its phase II started production in 2022. Today it’s closer to half that level of output. The field was shut from April 27 for 12 days of planned maintenance. There is another planned turnaround in late August for about 14 days. View the full article
Texas Railroad Commissioner Wayne Christian says recent winter storms would not have had such devastating consequences had it not been for decades of poor policy decisions prioritizing unreliable renewable energy sources at the expense of reliable electricity — something Texans now know is essential to everyday life. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
